Obamacare Forces SEIU to Drop Children’s Coverage
It seems the free market is much more compassionate than Ms. Nanny State after all . . . . At the end of October the Service Employees International Union (SEIU) informed dues-paying members of its monstrously large 1199 affiliate in New York that it was dropping health care coverage for children. That's correct, you read it right, an ultra-radical Marxist union, not evil Republicans, is abandoning our ‘chilluns’ to cut rising health care delivery costs . . . .
According to The Wall Street Journal, more than 30,000 low wage service industry families will suffer because of the decision. Who's to blame? Mitra Behroozi, SEIU 1199 benefits manager, singled out oppressive new government regulations, including the progressives’ sacred cow, Obamacare. Specifically the rule forcing insurers to cover dependents of policy holders until age 26 was singled out by Behroozi who said the Union’s financial resources are “already stretched as far as possible.” These things will happen when to a Union that pushes hundreds of millions of dollars toward losing Democratic candidates and $60 million to elect Obama himself. Not to mention anteing up bus fare for thousands of their SEIU employees to stand out in the sun at a Comedy Central anti-TEA Party rally in Washington five days before the election. The road to hell is paved with progressive intentions . . . .
Obama and Dems Push for Trickle-up Poverty
Margaret Thatcher’s famous line about socialism, “Sooner or later they’ll always run out of other people’s money,” seems quite appropriate these days given the Obama administration’s and Congressional Democrats’ penchant for taxing and spending and expanding the size and scope and unconstitutionality of the federal government. At this moment when the fate of the soon-to-be-expired Bush Tax Cuts is still in the balance, it seems evident that the contrast between the two major parties could NOT be greater. The Republicans seeking smaller government, lower spending and lower taxes are seeking the obvious “trickle-down” economic answer that worked so well for Ronald Reagan and over the first three years of the G.W. Bush administration. The Democrats as always are seeking more taxes to spend for an ever bigger and more controlling and intrusive federal government . . . while doing so they’re hoping to inspire the middle-class voter with wealth-envy by letting only the tax cuts for those earning $250,000 or more annually expire . . . policies that Reaganites called “trickle-up” poverty.
Chinese, Russians Show Disdain
for Dollar as Trade Currency
China and Russia have jointly announced that they will use their own currencies for bi-lateral trade in an effort to avoid the risk that the two nations say the American dollar now represents. While Beijing and Moscow have long wanted to heal their longtime “rift,” the announcement of their trade settlement being based upon their own currencies is a telling statement about the U.S. Federal Reserve Bank’s recent Q1 and Q2 monetary easing (demonetizing American debt and devaluing the dollar). In effect both nations are saying, “Our currency is stronger than the BUCK; and so is yours so let’s abandon the dollar and protect our domestic economies.
The two countries have long used the currencies of other countries, most notably the American dollar for bi-lateral trade. Recently, however, the Chinese Yuan has been traded against the Russian Ruble in the Chinese interbank market while the Renminbi/Yuan from China is soon expected to trade against the Ruble in Russia according to Vladimir Putin in a press conference in a meeting with Chinese leader Wen who was making a trip to Russia two months after Russian President Dmitry Medvedev's three-day visit to China in September, during which he and President Hu Jintao launched a cross-border pipeline linking the world's biggest energy producer with the largest energy consumer.
From the viewpoint of America’s economy, IF this Chinese-Russian agreement proves to be but the first of a cascade of nation’s “bailing out of the dollar” truly bad times are ahead. From the viewpoint of anyone holding dollar bills, including all American citizens, the real question is “What took so long?” In late 2008, Fed Chief Ben Bernanke printed up fourteen times the circulating currency in the United States in new bills. Thus, then with fifteen times the previous level in circulation, the 2009 dollar was POTENTIALLY worth just 6 2/3 pennies of the 2008 greenback. Now in 2010, the two quantitative easings (Q1 and Q2) have doubled the money in circulation as recently as July of this year . . . potentially, then the dollar is currently worth 3 1/3 cents of the September, 2008 dollar. All in all, news that makes you proud to be an American, eh?
Ya’ll live long, strong and ornery,